Illinois’ reefer sales booming

Illinois’ reefer sales booming

Since legalizing adult-use cannabis at the beginning of the year, Illinois has sold more than $500 million worth of product. The sales have collected about $127 million in tax revenue. In October, the state has collected a record $21 million in revenue from recreational marijuana, according to the Illinois Department of Revenue.

The Illinois Department of Revenue reports revenue has exceeded the $100 million mark. Revenue collections normally lag behind a month, but it is expected that another record will be broken. Illinois Department of Financial and Professional Regulation reports that a record was set in October sales. For the first time in monthly reports, more than 1.5 million items were sold.

Illinois dispensaries sold $54.7 million in recreational marijuana to state residents. So-called tourists from other states bought $20.6 million worth of product. The total sales were $75.3 million. For the first time, in-state sales crossed $50 million, out-of-state crossed $20 million and total sales had topped $75 million.

Building on new highs set in September, the sixth straight month of record sales produced the fifth state month of record revenue. Since legalization took place on New Year’s Day, the total sales of adult-use cannabis reached $507 million. The reefer revenues couldn’t close on liquor taxes.

The COVID-19 Pandemic increased liquor sales. In October, the state had collected $27.8 million from taxes on alcohol. The figure was up from the $26.25 million range in August and September, although down from the $29.6 million collected in July.

Managing editor of the Chicago Morning Star

Related Posts
Third quarter witnesses nearly double Chicago industrial demand
The centralized location of Chicago is continuously providing it an edge to grow its industrial
Boeing sets to sell first 737 Max planes after two fatal crashes in the past
The whole fleet of Chicago-based jet manufacturer, Boeing, had been grounded due to two fatal
Recreational Cannabis Sales’ Taxes Collects $52 Million
Illinois has collected $52 million in the first six months of the year from taxes
Illinois Communities Should Avail the R3
Grant money is still available for Illinoisans through the state’s Restore, Reinvest and Renew program,
Adult-Use Cannabis Facilities Online Survey Invites Participants
The City of Naperville is inviting the public to give input on potential adult-use cannabis
Illinois takes in $39.2 million in adult-use cannabis sales in January
The Illinois Department of Financial and Professional Regulation made an announcement related to the adult-use
MARBA posts legal issues regarding cannabis and employment status
Illinois has already become 11th US state in terms of the legalization of adult recreational
Smooth rollout, long lines for legal weed
Long lines formed outside marijuana dispensaries on New Year’s Day and persisted into Thursday after
Recreational Cannabis vendors will pay tax in Bridgeview
There is not any vendor which sells the recreational marijuana in Bridgeview but the village
Local leaders will discuss marijuana business in Freeport tonight
A meeting has been organized inside Freeport City Hall in which the local leaders will